Results update on Sarda Energy. Stock to remain range bound 500-600.
Stock had posted good numbers in September Quarter with Quarterly EPS of 10.4. Stock had rallied towards 620 (15x Annualized Quarterly EPS.)
Now the stock has posted Quarterly EPS of 9.5 at 15x Annualised Quarterly EPS, Fair price is at 570. Stock price being at 546, it is advised to add only on dips towards 500. SL 460. Exit on rally towards 590-620. Any break above 610-620, stock can rally towards 720.